The Financial Markets Authority (FMA) has released new guidelines for advisers when financial advice is given on financial products purchased for investment purposes.
Composite insurance pricing in the Pacific region increased 5% in the fourth quarter of 2022, the same as in the prior quarter, according to the 4Q2022 "Global Insurance Market Index" report released last week by leading global insurance broker Marsh.
Losses from the severe rainfall and floods that hit Auckland last week will be capped at NZ$50m ($32.4m), net of reinsurance cover, for the Brisbane-headquartered financial services group, Suncorp. The Group has a comprehensive reinsurance programme that provides protection for New Zealand losses.
Torrential rains and flash floods in New Zealand's biggest city, Auckland, have resulted in more than 6,000 insurance claims as of yesterday.
The Reserve Bank of New Zealand (RBNZ) yesterday published its Enforcement Guidelines and Investigation Guidelines, completing its enhanced Enforcement Framework.
The New Zealand financial services sector will be implementing some critical pieces of new legislation this year. The changes include the introduction of the full financial advice regime, the conduct regime for banks and insurers and the Climate Related Disclosure regime.
Suncorp Group and Microsoft have announced a three-year agreement that will accelerate the financial services company's ability to build and deploy digital solutions for customers and foster collaborative hybrid working.
The New Zealand government plans to introduce a farm-level levy on agricultural greenhouse gas emissions in the country from 2025, and solicited feedback last year on the issue.
The record number of insurance claims for land damage in 2022 is a reminder to homeowners to check their insurance cover and understand how to reduce the impact of local natural hazards, the country's natural hazard insurance provider says.
The 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through outreach programmes that focused on meeting the essential needs of communities and increasing educational opportunities for underprivileged children.